Creating a budget and planning a corporate event can be difficult. The first thing you need to do is determine the funds you have to work with. How much are you willing to spend overall, or, in some cases, how much have you been given?
According to thebalance.com, it is wise to leave a buffer zone of 10%, as the costs of events tend to fluctuate. Having a buffer will prevent you from running out of funds. After you have a number in mind, decide on the amenities and extras your event will need.
There are many aspects to consider:
- The Venue – This is the big one; you need a place to hold your event. Determine your guest list, how much space you will need, and technology requirements before picking a venue. Earle Brown has many different options to choose from. Visit our website to view them all.
- Catering – Nothing is worse than trying to be attentive at an event when you are hungry or thirsty. Providing a meal – even a light one – will help your attendees remain alert and productive during your meeting or event. Remember that catering costs can include janitorial labor, setup costs, and staffing.
- Rental Equipment – Depending on the event, you may only need a projection screen and internet access, but for bigger events, you may need access to a sound system, microphones, lighting effect and more.
- Decor – As the details of your event unwind, you may think you have all your bases covered. A plain, empty room, however, isn’t the most inviting place to conduct an event. Decor elements will add a sense of atmosphere to your event. Remember to stick with what you absolutely need. Though important, it’s easy to overspend in this department.
- Speakers or Paid Guests – If you plan on a large function, it can be appropriate to hire a guest speaker. This can be a local celebrity or business executive, but whomever you chose, special speakers will require payment for their services.
- Travel Expenses – If you have guests that are traveling a long distance or will be staying in a hotel to attend the event, it may be a good idea to reimburse them for their trouble.
- Photography and Marketing – If your event is annual, it is a good idea to hire a photographer and do some marketing for your company. Using social media marketing (such as live tweeting or Facebook Live) is a simple way to present your event to thousands of people. Read this article on low-cost ways to market online for more ideas.
- Printing Costs – This area often gets overlooked and underestimated. For any corporate event, attendees will need materials like agendas and invitations, and the event itself will need banners and programs.
- Awards or Plaques – If your event is an employee appreciation or recognition, an investment in a few nice plaques or trophies may be in order.
Corporate events can be stressful in many different ways. Take some of the worries out of planning and see what Earle Brown Heritage Center has to offer your next corporate event!